Triumph Group slides after FY guidance cut, surprise quarterly loss

Triumph

07/02/2024 12:16

** Shares of aerospace and defense equipment supplier
Triumph Group  TGI.N  drop 21.5% to $12.90 before the bell
    ** TGI cuts FY net sales guidance to range of $1.17 bln -
$1.20 bln from prior range of $1.43 bln - $1.47 bln
    ** Reports Q3 rev of $285 mln, missing analysts' consensus
estimate of $368.4 mln - LSEG data
    ** Reports a Q3 surprise loss of 16 cents/shr on an adj.
basis vs expectations of a 14 cents/shr profit 
    ** Six of eight brokerages rate the stock "buy" or higher,
one "hold" and one "sell"; their median PT is $20
    ** As of last close, stock had fallen close to 1% YTD; TGI
had surged over 57% in 2023

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com;))